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Go Markets any good for forex?

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Thankyou Blogandson,

You have made some great claims.

The broker default is not uncommon in the FX market considering that these brokers are only suppose to earn a small commission as being a middle man which sends our orders into the Real market.

However, we all know that 90% of these Brokers and 98% of all Metatrader brokers do not execute our orders, but only offset our positions or even worse, Hold all our positions on the sideline and wait for the market and leverage to Bust our accounts allowing the broker to take all of our funds.. This is Really what takes place. Considering the discentralized market, FX trading is the riskiest market to trade and invest, I am sure you have heard horror stories or both sucessdul traders that cannot withdraw profits (deleted right on the Platform) and also many stories of Stop outed, slippage and Many reqoutes along the way.

If you are new or an experienced trader, Please ignore ALL MetaQuotes related Brokers and only use a BANK. saxobank, dukascopy, Morgan stanley, And 20 others... Now these Banks do offer FX, and they offer liqiudity as well and are not Just a middle man, But a legimate FX provider. These Platforms are better than MetaTrader, even though that some including Dukascopy understand their customers and they Only Support Mt4 because this platform was the Beginning of Retail FX. It's used for a marketing approach and nothing more.

The only reason Why i still use Mt4 and Mt4 brokers is that . Using these brokers are the Only way to Document My trading activity Publicly by using Myfxbook. Beyond this fact, I would never use Meta Anything. I keep 90% of my funds With Real banks and 10% to display my trading activity.

Sorry for the typos and being a hater on Mt4. But this "metaquotes" was designed to be a Shady business operation. Why Else would a Financial platform be TICK DRIVEN

Also Google MetaQoutes Broker Plugin and see for yourself about HOW these brokers can Screw us 24/7!
 
Yes
I have found them to be pretty good and certainly improved from a year or more ago with respect to execution times and spreads.
But of recent months the spread on the Euro has deteriorated again which is disappointing.
 
I had an acct with them.
They have had issues for the last several months.
Their spreads were too high and they were not pro-active enough when communicating and dealing with issues.

Have a look at pepperstone and see what you think.
I have no affiliation with pepperstone beyond having an active trading account with them.
 
Anyone using GoMarkets as I signed up with demo/live account and find everything great so far.

No delays, fast execution
Reasonable spreads with option to have really small spreads
Free annual licence for Autochart & myfx
$300 trading money for $3k live account
GMT+2 server close
STP no dealing desk not market maker

I see these some less favourable comments, but notice they were some time back
so hope things are changed.

SevenFX
 
SevenFX said:
Anyone using GoMarkets as I signed up with demo/live account and find everything great so far.

No delays, fast execution
Reasonable spreads with option to have really small spreads
Free annual licence for Autochart & myfx
$300 trading money for $3k live account
GMT+2 server close
STP no dealing desk not market maker

I see these some less favourable comments, but notice they were some time back
so hope things are changed.

SevenFX
Click to expand...

I just started trading again with GO Markets. They have just moved to 5 day charts. Spreads are good and execution times are now a lot better and no more crazy slippage like last year. I'm a happy client again.
 
I've also just recently started with Go Markets on MT4. However, this my first time so I don't need a extravagant setup yet until I'm more comfortable and profitable. Then I'll look into other brokers and charting software. At the moment I'm trading pure price action so as long as the chart keeps ticking, I'm happy.

I will be probably using IB for shares however so may move my forex over there eventually if its any good/better.

BrianFXman said:
I just started trading again with GO Markets. They have just moved to 5 day charts. Spreads are good and execution times are now a lot better and no more crazy slippage like last year. I'm a happy client again.
Click to expand...

How did you get the 5 day charts?
Are you using the web trader?

I know how to change the chart from a 1 hour to 2 hour for example, that's easy and very helpful. However, it is offline and I did read how to make it online but I don't know much at all about the coding and where to copy and paste stuff etc.
 
Hi I have been using Etoro for the past 5 years and they have been very good with withdrawals and deposit and have so much staff. their Open book concept is awesome.
 
Go Markets

Hi Guys
Just joined this forum and have just started with Forex.
Can anybody tell me if Go Markets in Melbourne are a decent Broker to start with.
I have tried them for the past month on a demo and it all seems fine.
I have been using the Pipstrider EA and it has traded nicely on microlots.
Do things change dramatically as soon as you trade with real money?
I am planning on opening a $5000 account with them.
Any info about them, good or Bad I would be very grateful.
Cheers.
 
In my experience Go used to be quite good under previous management, since the take over there overall conditions have been quite poor. They may well have picked up by now, I am not sure, but I for one, do not want such fluctuating broker side conditions. My advice would be ICMarkets or Pepperstone, both are quite good and stable with good user friendly login console features.

Do things change dramatically as soon as you trade with real money?
Click to expand...
An age old question and a very contentious topic. One thing I can say for sure is 'things' will change with a live account whether that be with you and your emotions or live trading itself with different data feeds, spreads, slippage, liquidity fluctuations and so on. In theory they shouldn't.

Obviously the ideal way for you to find out, is if you are not interfering at all with your EA at the mo, just set it going and and don't touch it and see for yourself. I hope your good run continues.

Seeing you are new, I would suggest only sticking to microlots.

There is so much bullsh!t hype about FX to get retailers in, but remember it is largely unregulated. I love it for the action and longevity, anything else is like watching paint dry, in my opinion of coarse.
 
investortom said:
I've used them before for MT4 trading... they were one of the better ones around. Very helpful and they are Aus based.
Click to expand...

I was genuinely surprised when I read your post regarding the claim to being "Aus based". I even had a quick look on their website and was further astounded to see them making a similar claim.

Prior to this day, I could have almost sworn that Go Markets Pty Ltd was owned by a UK parent.

Was I mistaken?
 
Hi,

I don't trade with GO anymore but I know they are Oz based as I know someone who works for their sales team in Melbourne. They have offices on the top floor of one of the highest buildings in Melbourne. They must be making money somehow :)


cynic said:
I was genuinely surprised when I read your post regarding the claim to being "Aus based". I even had a quick look on their website and was further astounded to see them making a similar claim.

Prior to this day, I could have almost sworn that Go Markets Pty Ltd was owned by a UK parent.

Was I mistaken?
Click to expand...
 
GO’s upgraded technology gives clients redundancy levels that were not possible a few years ago. Low redundancy ensures absolute minimal downtime, and can give their clients the peace of mind that goes with it.
dhruv said:
Hey everyone,

Does anyone here use Go Markets as an fx broker and if so, could you shed some light on the pro's/con's of their service?

Currently with Oanda however I'm not a fan of their withdrawal fees and would much prefer an MT4 platform. Also the ability to trade other instruments with GM is appealing.

I dug up an older thread about them here but that went off-topic pretty quickly and was a few months old, so just interested in hearing fresh new opinions.

In particular, I'm interested in hearing about things like execution time/slippage, reliability, average deposit/withdrawal times, customer support etc.

Cheers,

dhruv
Click to expand...
 
Re: Go Markets any good?

A lot of information about forex trading. I also used the Go and I am using it for last month and have no problem with it.
wabbit said:
I have been with Go for just over a week now and have had no (major) problems. At about 14:00 each day I get a very short interruption to my connection through MT4, the cause remains unresolved but it has not affected my trading, yet. I have been trading using an EA which places many trades, sometimes in very rapid succession, without requote. I have only been trading microlots but each trade is executed within expectations, I have even had some slippage go my way!

I have sent a couple or emails to their support and had prompt replies; I have spoken on the telephone with their staff in sales, accounts and support (they might all be one group) and they were all knowledgeable and helpful.

Funding your account can be a little slow if you choose bank transfer, BPay etc. The fastest way is to use a credit card through PayPal (or just use your PayPal account) but their accounts people only work during "office" hours so it is not always possible to have newly-deposited funds immediately available for trading. The same can be said for the withdrawals: fastest if made at a reasonable time during office hours (you still need to fax them the withdrawal authorisation - - allegedly if regulatory rules change (in the near future?) this requirement will be abandoned in favour of electronic authorisation?) The delays were similar to the delays with my previous U.S. broker.

Spreads on the major fx pairs are pretty competitive; the spreads on some of the other pairs are not so. As with any broker, choose your universe carefully.

My high risk system took a battering (twice) in its first week of existence with this new broker, but I can say that the zero-balance protection kicked in when the EA went "berserk" without supervision (two 200+ point swings in a week will do that to this system, it's a fact of life) but as I said the broker's protection system worked like it should.

So far, after a very short evaluation period, I have only good things to say about Go Markets and their MT4 provided platform. If there is more to say in the future, I will let you know.


Hope this helps.

wabbit :D
Click to expand...
 
eurotrader said:
Hi,

I don't trade with GO anymore but I know they are Oz based as I know someone who works for their sales team in Melbourne. They have offices on the top floor of one of the highest buildings in Melbourne. They must be making money somehow :)
Click to expand...

Does this mean that their offices in the Netherlands are also OZ based, or did someone working in the sales team neglect to mention this?!!
 

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